Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
70 comments:
Dear vanquish!
Thanx for reply, i fully agree ur latest view. I m also short now in Bank Nifty but very light here, i will increase in rally. RBI has no other option so 25BPS, my prefered view is 50BPS hike in Interest rates on cards next week. Market should take decisive move next week.
Yet another Bang Head day ???? Hardly a 50 pt move for
the whole day - both today and yesterday.
दिन ही ब्रोकर्स का है
मेरे १३ trade को चुके है आज के आज
Dear Sir,
Very well said by you “If we attempt to figure out a ranging market, it will be confusing. Take 30 to 40 points in trades within this range of 5450 to 5600. Sometimes even lesser.”
I observed that 75 % days of our market are ranging days. We cant always hope for big movement, but any day it will come (big move), so just trade NIFTY with proper stop loss and also book profit with proper trailing stop loss.
5520 broken...
damm SL triggered
sir
@BHUSAN JI, UR THIS TRADE SURLY POSITIVE.
Dear Bhushan!
Every day is of Brokers, i also completed more than 22 trades & 16 gave me profits so no complaint to brokers....its my decision to trade:)
sl for longs any seniors ???
exit & wait for near EOD to take positions...
Good afternoon Ilango Sir and all.
=====
I have long in NF@ 5528(NS)as JNSAR trader.Please suggest SL if it slips below today's Low value.
======
time to be cautious, something big is going to come in next
few days trade light.
Dear Nifty future!
Mynac was also meaning the same which u did now:)
@vetha,
Intra Day was 5520. Positional/JNSAR is 5500/5508.
k nifty future
what a high action drama
@ Prabhakar,
Keep 5509 as SL.
yes Kumar sir,
actually if we had traded as per our pre-market plan,we would have been in SHORT & with profit as of now...
SAR for the day was actually 5548(5528)..
anyways, all these help next time....
hope nifty closes below 5530...
Thank you Sir
thanks nifty
@ Prabhakar,
Looking at the TT & BN SAR & inability to stay above 5534(21 & 35 Hr Sma & Day's Pivot), the bias seems to be down presently.
Only a close above 5535 or a break above 5550 would be positive.
That is a micro reading.
Macro is Down.
Dear All!
I warned earlier too that below 5510 Bears may dominate again. ILango sir's recent reply to Prabhakar SL 5509 also encouraging me, If it sustain below 5510 then get out of longs either these may trouble u a lot in coming days. In this rally i executed my shorts & now i am sitting on shorts hedged by 5600 calls.
Thank you Sir. ...understood....
Sir,
What is this Micro/Macro in technical. Even sometimes i am facing problem with this while operating "excel" when creating formula. pls. time permits.
Pity housewife only knows Micro(wave)oven :P see sir here too EW "wave" :)
@ Sujatha,
:)
"Waves" are there everywhere.
Micro TA for intraday.
Macro TA for Month/ week / Day.
Yet another day passed by with no trades. Nifty is
confusing too much.
Purely my personal view: (Kindly do no follow).Rather than seeing this as an
nifty supporting itself above 5500 to make a big upmove,
I am seeing it as nifty resisting a move past 5550-75 levels
which signals a big downmove ahead. I feel bears are just
playing a big waiting game to come hard on bulls during
the last 2 weeks of expiry. This will have the calls to be
kept at high premiums so that bears can write it at
higher levels. I will wait till such a time & join hands
with bears.
@Kumar Sir: I will do this under your leadership :)
Ilango sir, wht are safe levels to go short or long. In last 3 trades made loss, so afraid now.
Thanks
Now that you brought this housewife into picture, I heard this:
One Husband "lost his way" and he approached a woman and requested," Please may I talk to you?". The woman, perplexed, asked, "But, why?".
And he replied," If I talk to a woman, my wife will find me".
"Anger and intolerance are the enemies of correct understanding". -Mohandas K. Gandhi
Dear DR!
U r one of the main sources of inspiration to us, today u left us but i request on behalf of all that pls do come tomorrow sure either we will have FAST.
Regards
Kumar
काफी बोरिंग दिन था इसे अछा कोई मूवी देख अत्ता, लेकिन ये फिल्म वाले ढंग की एक मूवी भी नहीं बना सकते
Its look that DOW will close +ve today. DOW Fut were
+61, 1 hour before, now +21. This was used by CALL
writers to close there shorts. Global Market will be up
tomorrow. We never know we might have an exceptional
friday effect tomorrow.
Ilango Sir,
====
Congrats to your Son (Sorry Sir for late wishes as I am out of station and out of trade)
@Sujatha -- How is your daughter
====
Ilango sir, conservatives carrying longs??
@ Bizagra,
We are all guessing here with whatever we could read from Supports & Resistances from the price clusters.
5445-5480 and 5570-5600 are the true cluster supp & Res.
You combine this with TT, you keep selling on rises and booking closer to the Low ema till Nifty closes below DLEma.
Read the oscillators based on the Tech. strength & weaknesses as their behaviour is quite different with the bias.
Last Friday's close was below DHEma and "Sell on rises" came into play. The correct way is to wait patiently and sell into rises. The PreMarket ranges and Pivots help you to identify potential trades.
@Anuj(bizagra),
Hi...
@Prabhakar
Hiii..
@ Bizagra,
Yes. Here, it is based on the recent critical Low of 5480.
Ilango sir, thanks for for explainig to yr dumb head student.:))
@Ashtutosh
I can't understand why our Nifty starts fallin' only
after the Dow has fallen a lot and vice versa.
If you notice, the Dow has fallen almost 5+% till Tue
evening. Yet we had a close near 5560, which equates
to less than 1% fall in Nifty since Dow began its
correction.
Frequently, when Dow goes down by 200+, our markets tends
to open with a huge gap down and then close in the green.
Followin' the Dow and tradin' Nifty has become a very difficult
proposition.
Surprisingly good intraday short covering in 5800 CE
@ILANGO SIR
Relieved "Macro is Down" :)
Even in 55 & 5600 CE
Hi JN blogmates,
Anybody observing levels of Nifty range for to-day based on Range bands AFL forwarded few days back.
To-day' range as indicated in morning was 5548~5505 for whole daychandra
@mynac
more pronounced covering seen in 5500 CALL,
almost 5 lacs OI cut days high OI...
@Anil,
means even Big players too confused :)
Someone might have taken contrary view..
Anuj,
May I know your positions in Nifty future?
Dear Mynac!
Big players are not confused anyhow, 5800 call was written mostly on 3rd june when it made high of 24.75 & now its 8 bucks only. Now value remaining 400 rupess & margin is 25000 so not looking worthy to hold it sell...thats why its covring on & thats my understanding:)
And now joining Critic's party :)
Sirrrrrrrrrrr ha ha :) very lighter one, as all are in “serious mood” why index is behaving like this? But that is it’s nature sometimes :D it’s better v hv to be flexible with that. By the way really I donno wat it is. Thanks for your reply. I am the “example” here – “if u know little” also can trade :) technical words or following only “pure ta or chart” is not must. I learnt lot of TA terms from here only.
Hi prbha – She is OK. Thanks :)school opened little relief for me
DR-ji - Is it so?? U will not come again here?? Be like me brother .. whatever the reason anybody “schold me here” also I will be “present”:) come with one “good youtube post” . Or tired of counting money?? Anyhelp?? - Cheers
Mynac – ha ha :) but they will have human brains only na?? by the way my “wind” is blowing @ their end?? :D
@Prabhakar
i m long @5530 NS with 5490 SL.
Haa! that's the the reason,thanks.
Sir,
Do we carry JNSAR Longs today,
Please reply before closing Sir...
Thanks & regards
Anuj,
I think it is Positional.????
Dear Sir,
What should be the JNSAR trade ( long or short ) at closing, presently we are long but TT showing red .. really confusing market .
A day of whipsaws and no trade
a likely close below 5529, carry SHORTS...
a likely close above 5529, carry LONGS....
@Prabhakar
Ya, i m not fit for intraday...:):)
Waiting for Sir's reply:-)
No hard feelings please
@ Nifty Futures
I think we should apply filter at this position and we get breakout and breakdown poiints
Thank you Anuj,I am also carrying my position
forming dozi in daily chart
Dear Kumar,
When it was mostly written bet.7 & 14,in later rally it
went up to 22 & at present 8.75 ...if Bulls shall
turn the table then it would be lottery for buyers,
who are courageously going long..At present time decay
factor is there so would watch it in coming days.
Hello All,
Please can someone provide the link to how to trade JNSAR.
Thank you
John
AAJ MAJA AA GAYA, NIFTY NE KUCH NAHI KIYA
MERE HERO HONDA PUTS KI COST 2.5 TIMES ALREADY HO GAYEE HAI
AUR 200 DAY SMA KE NICHE KI CLOSING BHI AA RAHI HAI
Dear Anand said...
forming dozi in daily chart
means Today's conclusion,
khaya piya aur glass tod diya :)
Bye Sir and Friends.
Bye Sir and all
Has anybody noticed that two high volume trades in
Spot Nifty ? The first one (Highest among both trades)
was @ 5534.05 at 9.29 AM when Nifty went up and
the second one was @5512.85 at 11.41 AM,when Nifty came down.
@Nifty
My thought was that market needs a +ve news to go up
and that will be provided by DOW.
When its going against the global markets means
local factors(+ve/-ve) have more weightage.
About your question, our market corrected from 6300 to
5200 and thus did not reacted that much to the -ves.
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